2. Brian David Butler
Teaching:
Brian Butler is currently a professor with Forum-Nexus,
which is co-sponsored by the IQS Business School of the
Ramon Llull University in Barcelona, and the
Catholic University of Milan. He teaches classes on
International Finance and Global Entrepreneurship in
brian.butler@forum-nexus.com Europe every July and January.
briandbutler@gmail.com
LinkedIn/briandbutler
Skype: briandbutler In Miami, Brian has taught Finance, Economics and Global
Trade at Thunderbird’s Global MBA program in Miami.
He previously worked as a research analyst at the
Columbia University Business School in New York
City.
3. Brian David Butler
International:
A global citizen, Brian was born in Canada, raised in
Switzerland (where he attended international British
school), educated through university in the U.S., started his
career with a Japanese company, moved to New York to
work as an analyst, married a Brazilian, and has traveled
brian.butler@forum-nexus.com extensively in Latin America, Asia, Europe and North
briandbutler@gmail.com
LinkedIn/briandbutler America.
Skype: briandbutler
Brian currently lives in Recife, Brazil where he is teaching
classes on ―Global Entrepreneurship‖ at the university
―Faculdade Boa Viagem‖.
7. notes
• Everyone should have received my email with
the updated course syllabus
• Exam – will come mostly from my lectures.
• My presentations will all be placed online, I will
email you the link www.slideshare.net
• Discuss next two weekends
• Make-up schedule during weeks?
• Group projects –
▫ Students should make teams,
▫ Change: allow one country to be Brazil (new)
9. Facebook vs. MySpace case study
▫ Who can summarize:
―what was the importance of international strategy
for Facebook when competing with MySpace for
market dominance in the US?‖
Who can explain what we meant by ―network
effects‖
10. International strategy = key
▫ ―Most of Facebook‘s growth is international,
where they‘ve executed on a brilliant strategy for
quickly rolling out localized versions of sites by
getting their users to do the translation
work for them (MySpace, by contrast, expands via
a command-and-control infrastructure that puts
people on the ground in each new international
market).
11. Facebook growth international
• International Growth
• More than 70 translations available on the site
• About 70% of Facebook users are outside the
United States
• Over 300,000 users helped translate the site
through the translations application
http://www.facebook.com/press/info.php?statistics
12. Facebook growth international
• International growh = key to winning vs
competition
• Massive growth in users
• Network effect = value of company… leads to
more investment…leads to better user
experience…leads to more users
13. Network effect
• In economics and business, a network
effect (also called network externality) is
the effect that one user of
a good or service has on the value of that
product to other people. When network effect
is present, the value of a product or service
increases as more people use it.
• The classic example is the telephone. The
more people who own telephones, the more
valuable the telephone is to each owner. This
creates a positive externality because a user
may purchase their phone without intending
to create value for other users, but does so in
any case.
• Online social networkswork in the same way,
with sites like MySpace and Facebook being
more useful the more users that join.
15. Globalization
• ―international borders and trade barriers came
down.
• Communism fell.
• Protectionist walls in Latin America and elsewhere
were dismantled.
• Governments took a back seat to broader market
forces.
• Thomas Friedman declared that the Internet and
other planet-spanning technologies were erasing
national boundaries. The world, he said in a 2005
best seller, was flat.‖
16. Globalization
Why?
some industries are much more globally
competitive and need to be due to massive
economies of scale advantage that can be
obtained from Marketing products globally.
Such industries as
* computer manufacture where the products are
standardized are prime candidates for global
competition.
17. Globalization
• Types of “global” industries
• Luxury consumer goods
• Pharmaceutical
• Technology
Other potentially global(ish) industries
• Banking (but for local regulations)
• Internet (local regulations, language)
• Media (film) – local language
• Music (some)
• Others?
18. Globalization
• Not "Americanization"
• Note that globalization does not
equal "americanization" ...
▫ proof is that there are just as many sushi
restaurants as Mc Donalds,
▫ and Jackie Chan kung fu movies from Hong Kong
might have as much global recognition as any
American movement.
19. Globalization -- why?
• As travel costs have fallen,
• communication costs have fallen
• and the world has become more technologically integrated,
• As a result:
▫ we see new opportunities for even small companies to compete
globally.
But, on the other hand, we also see company after company
failing in global competition because they still think too US, or
European-centric, and thus give up global market share to the
"clones", or copy cat business models that pop up around the
globe. See our discussion about troubles going global
(business)
20. Localization
Sometimes, a company can make much more
money by ―localizing‖ their products… but at
what cost?
• Note: it costs $$ to localize (translate), and you
might loose economies of scale
22. Localization
• counter trend in retailing
▫ consumers are resisting globalization
▫ going to the other extreme: localization, in which
products are just sourced locally, grown locally,
produced locally...
▫ consumers are drawn to the appeal of local
industry (and are willing to pay more, and have
slightly less choice for the privilege of supporting
home-grown artists, farmers, and producers).
23. Localization v Globalization – how
much to localize?
• How much localization of your product should you
make?
▫ If you are marketing a truely global brand, then maybe you
dont want to change very much.
▫ But, maybe local requirements mean that you could sell
more if you would modify your product.
▫ Each time you make modifications, you loose efficiency
(which raises costs), but you might gain a local feel, and
become more attractive to different markets.
▫ How much tradeoff should you make in efficiency loss for
market share gain? This is the real trick of
international marketing!
24. Localization v Globalization – how
much to localize?
• Localization leads to more sales, but globalization leads to
more efficiency:
• Will you need to adapt to the local needs?
• Or, can you go with a more global-strategy, and market the
product the same to every customer?
• The more you adapt the product / marketing mix, the higher
your costs will be (and so the profits will be less), but you
might find that you need to localize in order to boost sales
volumes.
• Its a trade off, and one that needs careful consideration. The
product adaptation issue is one of the most important
decisions that an international marketer must make.
25. Localization
• Example:
• A Brazilian cachaca producer that considers selling
in Spain might ask themselves: "How are we going
to (and how much are we going to) localise the
marketing of the brand in Spain? Rather than
marketing the liquor the same to Spanish
customers, we need to find out a way to make the
branding appealing to the Spanish....how much
customization will we offer?"
26. Localization
• How much "localization" is necessary?
• Luxury goods are one of the few truly "global"
brands that are able to gain from global efficiency in
marketing and producing the product exactly the
same in any market that they enter. Without
needing to tailorize (Localization) the products to
meet local tastes, the companies are able to
significantly save money on local costs. But, very
few products are truly able to do so. Think Rolex.
• note that even Mercedez Benz is forced to localize.
28. The “entrepreneur mindset”:
• Importance of
▫ critical thinking
▫ idealism,
▫ trend awareness,
▫ problem solving
• The importance of Critical Thinking for
innovation
• ―Fail fast‖ and ―global learning‖
• Brainstorming
29. Critical thinking
• Habit to ask ―what is wrong‖?
• Look for problems
• Try to ―poke holes‖ in story
• What are the ―assumptions‖? Are they realistic?
• What could be done better next time?
30. Idealism
• How ―should the world be‖
• Don‘t just look at the way thing are…
• Dream how they ―should‖ be:
• Is there a gap?
• If so, what can / should be done to fix?
31. trend awareness
• What is changing?
• Are you aware of the changes?
• Are you ready for the challenges?
• Will it be you who takes advantage of the
opportunities?
32. Problem solving
• Great entrepreneurs are ones that solve
problems.
• Best ideas come from personal problems
33. Why solve problems:?
• ―Many of the applications we get are imitations
of some existing company. That's one source of
ideas, but not the best. If you look at the origins
of successful startups, few were started in
imitation of some other startup. Where did they
get their ideas? Usually from some specific,
unsolved problem the founders identified.‖
Y Combinator:
http://paulgraham.com/startupmistakes.html
34. Why solve problems:?
• It seems like the best problems to solve are ones that
affect you personally. Apple happened because Steve
Wozniak wanted a computer, Google because Larry and
Sergey couldn't find stuff online, Hotmail because Sabeer
Bhatia and Jack Smith couldn't exchange email at work.
So instead of copying the Facebook, with some variation
that the Facebook rightly ignored, look for ideas from
the other direction. Instead of starting from companies
and working back to the problems they solved, look for
problems and imagine the company that might
solve them. [2] What do people complain about? What
do you wish there was?
Y Combinator:
35. “fast failing”
• ―The development of a successful new product, service, or
business is often the result of lots of learning from lots of
failures. The key is to fail fast and fail cheap. ―
• The idea
▫ Dont be afraid to try new business, but if its going to fail, don‘t be
afraid to ‗fail fast‘ and move on. Don‘t stretch failure over 3-5
painful years.
▫ The trick is to distinguish between a business that is doomed to
fail, from the one that would succeed if only you tried a bit harder
(not that many entrepreneurs fail from lack of full effort, and
fighting through tough times)
▫ The challenge is to correctly use the 3-questions framework to
make sure your new business is (a) solving a problem, (b) ahead
of a trend, or (c ) localized properly.
▫ If, its not… and if the startup is doomed to fail… then fail fast!
▫ ―Fast fail‖ is a startup mentality for quickly starting up new
businesses, popular within the startup community of Silicon
Valley, USA
36. fast failing
• The classic mindset is to try to get a business plan or product
95% right before taking action. This is great in theory, but it
rarely works. Why? Because as soon as you ship the product
you immediately recognize its fatal flaws. By then, it's often
too late to change the packaging, the marketing, or the
product itself.
• The alternative is to get your idea about 50% right, then let
customers tell you what your mistakes are. Listen, learn, get it
50% right, and put your idea through the process again. Keep
at it until your customers say, "Wow!" Instead of debating
options internally, you'll be making your idea real, taking it to
customers, and learning as it fails.
37. fast failing
• Numbers
• The math of fail fast and fail cheap is simple. If it
takes six months and $100,000 to take a product
from idea to customer reaction, then at best
you'll get two cycles in a year. However, if you
can do a complete cycle of learning in a week for
$1,000, you can get 52 cycles in a year at about
half the cost.
38. Brain-storming
• process of generating LOTS of ideas quickly
• Think outside of the box
• Original thinking
• Key – don‘t be afraid of uncommon thoughts
39. Brainstorming
• ―a group creativity technique designed to
generate a large number of ideas for the solution
to a problem.‖
40. Keys to successful (focused)
brainstorming:
1. no judging, dont interrupt ideas
2. build on the ideas of others, rather than just adding your own new
ideas
3. stay focused, and dont go off on tangents
4. get everyones involvement by allowing just one person to speak at a
time. And make sure to also involve the shy ones
5. quantity, quantity, quantity.... try to get as many ideas as possible
in as little time as possible. go, go, go.... a good idea will pop out as
you break down the barriers of fear and judgement, and get caught
up in the momentum
6. think out of the box, out of the room...out of this world....encourage
wild ideas
7. be graphic, visual....sketch out the concept
8. make a prototype, but be FAST (a rough approximation right now
is better than a perfect prototype a month from now!)
41. • Approach
• There are four basic rules in brainstorming.[5] These are intended to reduce
the social inhibitions that occur in groups and therefore stimulate the
generation of new ideas. The expected result is a dynamic synergy that will
dramatically increase the creativity of the group.
•
• Focus on quantity: This rule is a means of enhancing divergent
production, aiming to facilitate problem solving through the maxim,
quantity breeds quality. The assumption is that the greater the number of
ideas generated, the greater the chance of producing a radical and effective
solution.
• No criticism: It is often emphasized that in group brainstorming, criticism
should be put 'on hold'. Instead of immediately stating what might be
wrong with an idea, the participants focus on extending or adding to it,
reserving criticism for a later 'critical stage' of the process. By suspending
judgment, one creates a supportive atmosphere where participants feel free
to generate unusual ideas.
• Unusual ideas are welcome: To get a good and long list of ideas,
unusual ideas are welcomed. They may open new ways of thinking and
provide better solutions than regular ideas. They can be generated by
looking from another perspective or setting aside assumptions.
• Combine and improve ideas: Good ideas can be combined to form a
single very good idea, as suggested by the slogan "1+1=3". This approach is
assumed to lead to better and more complete ideas than merely generating
new ideas alone. It is believed to stimulate the building of ideas by a process
of association.
42. 2. why be an entrepreneur?
Class participation…
43. Review last week:
• What are the benefits of global
entrepreneurship? What are the challenges?
Can small enterprises really go global?
• Class discuss…
44. “Thinking global for entrepreneurs”
• Example: furniture company should look for global efficiencies and
world wide centers of excellence.
• ideal structure
▫ design my products in cheapest / best place in world,
▫ manufacture in cheapest / best place in world,
▫ market with service and with warranty
▫ Offer a customized product (tailorization)
▫ keep on innovating (sustainable).
▫ locate my design center in New York City where competitive pressure
and close proximity to global trends would keep us ahead of changing
consumer demands.
▫ manufacture my furniture in the cheapest place possible for my desired
level of quality, perhaps looking at China, India or Vietnam as potential
sources.
▫ use flexibility to service customers before and after the sale, allowing
them to customize their products.
45. “Thinking global for entrepreneurs”
• Example: furniture company should look for global
efficiencies and world wide centers of excellence.
• ideal structure
▫ For my management structure, I would need to be flexible
enough to allow for exchange rate changes, meaning that I might
need to shift my production from one country to another if FX
rates changed, and I would need to be flexible enough to shift
with style changes and changes in consumer preferences.
▫ I would try to develop my worldwide learning, and realize that
design innovations could come from everywhere.
▫ I would attempt to gather design trends and new ideas from all
places (Maybe using internet wiki technology).
▫ But, more importantly than anything, if I were to really think like
a transnational manager, I would have to shift my way of thinking
away from a Brazilian furniture exporter, and to a ―global brand
developer‖.
48. What it means to be an
"entrepreneur"?
• An Entrepreneur:
▫ is someone with big ideas, and a strong belief that
they can make it happen.
▫ An entrepreneur is a risk taker, someone that is
willing to lay it all on the line for the opportunity
of big returns.
http://kookyplan.pbworks.com/
49. Risk
• Entrepreneurship is about taking risk.
• The behavior of the entrepreneur reflects a kind
of person willing to put his or her career and
financial security on the line and take risks in
the name of an idea, spending much time as well
as capital on an uncertain venture.
http://kookyplan.pbworks.com/
50. Types of entrepreneurs
1. Lifestyle Entrepreneurs:
▫ Those that start up a business in a niche, making a living on
their own, and satisfying the needs of a small group of clients
that a bigger chain can not, or does not want to (yet). These
entrepreneurs accept the rules of the game the way they are,
and seek to exploit opportunities as the see them. This group
of entrepreneurs should NOT seek Venture capital funding, and
instead should look to self-fund, or look for a rich uncle (or a
bank loan).
2. Dreaming Big Entrepreneurs
▫ Those that launch a business with grand aspirations, that seek
to "go national", or "go global".
▫ These entrepreneurs will find stiff competition from existing
firms, and will succeed only if they find a way to change the
rules of the game.
▫ They seek to create their own opportunities and to disrupt
others business plans.
▫ These are the ones that often get venture capital funding.
http://kookyplan.pbworks.com/
51. • Characteristics of typical
Entrepreneurs
• John G. Burch (Business Horizons, September 1986) lists traits
typical of entrepreneurs:
• A desire to achieve:
▫ The push to conquer problems, and give birth to a successful venture.
• Hard work:
▫ It is often suggested that many entrepreneurs are workaholics.
• Desire to work for themselves:
▫ Entrepreneurs like to work for themselves rather than working for an
organization or any other individual. They may work for someone to gain
the knowledge of the product or service that they may want to produce.
• Nurturing quality:
▫ Willing to take charge of, and watch over a venture until it can stand
alone.
• Acceptance of responsibility:
▫ Are morally, legally, and mentally accountable for their ventures. Some
entrepreneurs may be driven more by altruism than by self-interest.
52. • Characteristics of typical
Entrepreneurs
• Reward orientation:
▫ Desire to achieve, work hard, and take responsibility, but also with a
commensurate desire to be rewarded handsomely for their efforts;
rewards can be in forms other than money, such as recognition and
respect.
• Optimism:
▫ Live by the philosophy that this is the best of times, and that anything is
possible.
• Orientation to excellence:
▫ Often desire to achieve something outstanding that they can be proud of.
• Organization:
▫ Are good at bringing together the components (including people) of a
venture.
• Profit orientation:
▫ Want to make a profit; but the profit serves primarily as a meter to gauge
their success and achievement.
http://kookyplan.pbworks.com/
53. Great for a resume (CV)
• Note, if you do launch your business
idea, and then later return to the market
to try and find a job… all of these
attributes are high demand:
55. What is an “entrepreneur”?
• Entrepreneurship merges the visionary and the
pragmatic.
• It requires knowledge, imagination, perception,
practicality, persistence, and attention to others.
http://kookyplan.pbworks.com/
56. What is an “entrepreneur”?
• …often is mistaken for—invention,
creativity, management, starting a small
business, or becoming self-employed, it is
neither identical with nor reducible to any of
them.
• The defining trait of entrepreneurship is the
creation of a novel enterprise that the market is
willing to adopt.
http://kookyplan.pbworks.com/
57. What is an “entrepreneur”?
• Hence, entrepreneurship entails
the commercialization (or its functional
equivalent) of an innovation.
http://kookyplan.pbworks.com/
58. What is an “entrepreneur”?
• The market judges utility and need along with
excellence. It does not value—and does not need
to value—every good idea.
• The entrepreneur‘s risk, therefore, is not
a gamble but an informed calculation about
the viability of the new enterprise in the market,
about its capacity to meet a demand or need of
others.
http://kookyplan.pbworks.com/
60. In high esteem:
• Entrepreneurs are among the most celebrated
people in our culture.
• Celebrity entrepreneurs such as Steve Jobs
(Apple), Bill Gates (Microsoft), Sergei Brin, and
Larry Page (Google) often grace the covers of
prominent publications.
• These company founders and innovators fuel
economic growth and give the nation its
competitive edge.
Techcrunch.com, by Vivek Wadhwa on Feb 27, 2010
61. But, Can Entrepreneurs Be Made?
Can you teach someone to be an entrepreneur?
The pessismists Say ―NO‖:
―Silicon Valley investors often have a picture in
their heads of the type of person who is worthy
of funding: young, brash, stubborn, and
arrogant. They believe that successful
entrepreneurs come from entrepreneurial
families and that they start their entrepreneurial
journey by selling lemonade while in grade
school.
Techcrunch.com, by Vivek Wadhwa on Feb 27, 2010
62. Saying NO:
―Angel investor and entrepreneur, Jason Calacanis
said as much in his recent talk to Penn State
students.
And after meeting Wharton students, VC Fred Wilson
expressed shock when a professor told him that you
could teach people to be entrepreneurs.
Wilson wrote, ―I‘ve been working with
entrepreneurs for almost 25 years now and it is
ingrained in my mind that someone is either born an
entrepreneur or is not.‖
Techcrunch.com, by Vivek Wadhwa on Feb 27, 2010
63. On the other hand…
Most successful entrepreneurs do NOT come from
entrepreneurial families, and do NOT have
entrepreneurial ―genes‖
• 52% of the successful entrepreneurs were the first in
their immediate families to start a business — just
like Bill Gates, Jeff Bezos, Larry Page, Sergei Brin,
and Russell Simmons (Def Jam founder).
• Their parents were academics, lawyers, factory
workers, priests, bureaucrats, etc.
• About 39% had an entrepreneurial father, and 7%
had an entrepreneurial mother. (Some had both.)
Techcrunch.com, by Vivek Wadhwa on Feb 27
64. Saying “YES”:
▫ The education and training of entrepreneurs is
something that the Kauffman Foundation has been
researching extensively.
▫ Over the last six years, it has invested around $50
million on academic research to understand what
makes entrepreneurs tick and what policies are most
conducive to entrepreneurship and to construct data
bases to permit analyses of these subjects. (Kauffman
has also funded some of my research at Duke, UC-
Berkeley, and Harvard.)
• Its VP of Research, Bob Litan, says
▫ ―Kauffman has learnt conclusively that
entrepreneurship can be taught!!”
Techcrunch.com, by Vivek Wadhwa on Feb 27
65. Creating the “cluster”
• That is why Kauffman (which has a $2 billion endowment)
is investing heavily in an ambitious new program
called Kauffman Labs.
• This aims to dramatically increase the ability of small
businesses to become big businesses.
• The Labs program is built around a novel idea: that highly
motivated individuals with ―scalable ideas‖ can be recruited to
be entrepreneur sand to be made successful, by
surrounding them with a network of other
experienced entrepreneurs; sources of money; and
mentors.
• The goal is to educate entrepreneurs and surround them with
a powerful network.
• This is like a Y Combinator on steroids.
Techcrunch.com, by Vivek Wadhwa on Feb 27
66. Family + genes – important?
• More important are you social and professional
networks
▫ ―I doubt that all of these Google employees who are
starting successful businesses were born with
entrepreneurial genes. ―
▫ VC and former entrepreneur Brad Feld
also blogged about how many of his frat buddies at
MIT had become successful entrepreneurs.
• Were all of these people born to be entrepreneurs as
well? I don‘t think so.
Techcrunch.com, by Vivek Wadhwa on Feb 27
67. What matters…
• education,
• exposure to entrepreneurship,
• networks
Techcrunch.com, by Vivek Wadhwa on Feb 27
68. Do you need to start early?
• NO!
• Only a quarter caught the entrepreneurial bug
when in college. Half didn‘t even think about
entrepreneurship, and they had little interest in
it when in school.
Techcrunch.com, by Vivek Wadhwa on Feb 27
69. Do you need a Harvard Education?
NO!
• Level of Education does matter — but not the
college they graduate from.
• Significant difference between companies started by
founders with just high-school diplomas and the
rest.
• Education provided a huge advantage. But there
wasn’t a big difference between firms
founded by Ivy-league graduates and the
graduates of other universities.
Techcrunch.com, by Vivek Wadhwa on Feb 27
70. Profile of successful (high-growth)
entrepreneurs
• Company founders tend to be middle-aged and
well-educated, and did better in high school than
in college
• These entrepreneurs tend to come from middle-
class or upper-lower-class backgrounds, and
were better educated and more entrepreneurial
than their parents
• Most entrepreneurs are married and have
children
• Early interest and propensity to start companies
Techcrunch.com, by Vivek Wadhwa on Feb 27
71. Profile of successful (high-growth)
entrepreneurs
• Top 4 Motivations for becoming
entrepreneurs:
1. building wealth,
2. owning a company,
3. startup culture, and c
4. capitalizing on a business idea
Techcrunch.com, by Vivek Wadhwa on Feb 27
72. Profile of successful (high-growth)
entrepreneurs
• Not important or less-important factors:
1. inability to obtain employment
2. encouragement from others
Techcrunch.com, by Vivek Wadhwa on Feb 27
73. Profile of successful (high-growth)
entrepreneurs
• One common factor:
1. Most had significant industry
experience when starting their
companies
Techcrunch.com, by Vivek Wadhwa on Feb 27
74. Industry experience
• suggestion:
1. Go get a job, any job for 6 months – 1 year
in the industry before launching your own
venture (officially) .
▫ Personal experience: furniture example:
wasted 3 years learning what I should have
already known, and would have been taught
had I taken a sales job at a competitor
Techcrunch.com, by Vivek Wadhwa on Feb 27
75. Profiles of Entrepreneurs
• One note: the profile of entrepreneurs outline
above is slightly different for one group…..
76. Profile of successful (high-growth)
entrepreneurs
• But… the profile of “Early entrepreneurs” (young) and
those with an early interest in entrepreneurship are
different
▫ Entrepreneurs who started their companies soon after graduating (with
zero to five years of work experience) and those who had an extremely
strong interest in entrepreneurship in college were far less likely to be
married (36.6 percent vs. the total sample average of 69.9 percent) or to
have kids when they launched their first businesses (26.9 percent vs. the
total sample average of 59.6 percent).
▫ Those who were ―extremely interested‖ in starting a company while in
college were far more likely to be early entrepreneurs. Of these
entrepreneurs, 69 percent started their companies within ten years of
working for someone else (as compared to 46.8 percent from the rest of
the population).
▫ Level of interest in entrepreneurship during college was correlated to the
number of years worked before starting a business—only 18 percent from
the ―extremely interested‖ group worked for at least fifteen years before
starting their own businesses, as compared to 46.4 percent from the ―not
very interested‖ group.
Techcrunch.com, by Vivek Wadhwa on Feb 27
77. Homework from last class
Student presentations
(each student to
present)
78. Homework review
3-questions exercise
• Identify at least (1) major problem, (1) major trend, and
(1) transferrable idea in:
• (a) locally – Recife
• (b) locally – Brazil
• ( c) globally – some other part of world, or worldwide
• Due next week – Maximum 1 page – word document –
submit by email to : briandbutler@gmail.com
80. Class Schedule: Topics to cover:
The “Three Questions” framework
• The ―three questions‖ framework
1. ―what is the problem,
and what are you going to do about it?‖;
2. ―What is the trend?
and how are you going to get in front of it?‖,
3. ―what is great here / somewhere else?
and where else could it work? how are you going to
localize it? Where else could you bring this idea and
find success?
81. Problem solving
▫ Problem solving: ―what is the problem, and
what are you going to do about it?‖ Seeking
Opportunities by solving problems.
82. Trends
▫ Trend awareness: ―What is the trend, and how
are you going to get in front of it?‖ Analyzing
trends to find opportunities. Increase student‘s
awareness of global trends, and global business
models.
▫ global changes
technology, communications, capital markets,
regulations, consumer tastes, credit availability,
technology and more; and how they create
opportunities for entrepreneurs
83. WIWH – localizing business models
• Localizing business models: WIWH: ―would it
work here‖: a look at what is great here /
somewhere else, and a systematic approach to
analyzing potential of localizing foreign business
models.
84. Homework Review – class participation
• Each student to present
▫ Front of class
▫ Top 2 ideas
• Students watching should
▫ Think critically
▫ Ask questions
▫ Challenge assumptions
• All students should take notes over the course of the
semester
▫ Top problems (locally, nationally, globally)
▫ Top trends (l, n, g)
▫ Top transferrable ideas (l, n, g)
85. Homework review – my observations
Most did well locally,
Struggled globally
Most did well looking at (a) problems,
and (c) ideas to transfer
But struggled with ―trends‖
86. Where to look for more trends and
inspiration ?…
• Some of my favorite sites….
89. Springwise
• Who is it for?
▫ Springwise is required brain food for
entrepreneurial minds! Whether you're a budding
entrepreneur, head of a start-up, management
consultant, marketing manager, consumer
insights expert, trend watcher, journalist, private
investor, business development director, or
venture capitalist, Springwise will instantly inspire
you by getting the world's most promising new
business ideas and young ventures right in front of
you.
http://springwise.com/ideas/
90. Springwise
• Springwise scans the globe for the most promising
business ventures, ideas and concepts that are ready for
regional or international adaptation, expansion,
partnering, investments or cooperation. We ferociously
track more than 400 global offline and online business
resources, as well as taking to the streets, cameras at
hand.
• To ensure true ‗glocal‘ coverage, the central office is in
close contact with more than 8,000 Springspotters in
over 70 countries worldwide. Springwise's weekly
newsletter, to which you can subscribe for free, is sent to
more than 100,000 business professionals in more than
120 countries.
• Springwise is the first company to compile and send out
a newsletter like this on a global scale, making optimal
use of an ever more networked world. Established in
spring of 2002, Springwise is headquartered in
Amsterdam, The Netherlands.
http://springwise.com/ideas/
96. Homework #1
3-questions exercise – AGAIN – try
to improve 2nd time!
• Identify at least (1) major problem, (1) major trend,
and (1) transferrable idea in:
• (a) locally – Recife
• (b) locally – Brazil
• ( c) globally – some other part of world, or
worldwide
• Due Saturday March 20th – Maximum 1 page – word
document – submit by email to :
briandbutler@gmail.com
98. Homework #2
Group Project
• Pick your group (3 students)
• All groups must deliver the following
▫ Proposed product/ service
▫ Proposed 2 countries
▫ Outline of major issues (cultural, technological,
political, economic…for why it may / or may not work)
▫ Due: Saturday 27th 10am
▫ Word document 2 pages max
▫ submit by email to : briandbutler@gmail.com
99. Homework #3
Social Media project
• To get ready for next class presentation on how global
entrepreneurs can use social media to attract global clients:
• All students must signup for
▫ Twitter, facebook, linkedin
▫ Be prepared for discussion about ―social media‖ and
entrepreneurship
• Extra credit +1 point for class participation: available to
student that finds & connects with me on the most number of
locations
▫ Due: Tursday, May 1st (before easter)
101. Why?
• Travel abroad (in person, online, through media)
▫ Above all… learn to be curious about international
places, people, cultures, businesses, events,
politics, etc..
▫ Increase your international IQ every day!
104. Santorini, Greece
• Volcano
• Greek Island
• Santorini is essentially what remains of an
enormous volcanic explosion, destroying the
earliest settlements on what was formerly a
single island, and leading to the creation of the
current geological caldera.
108. Mont Saint-Michel, France
• Mont Saint-Michel (English: Saint Michael's Mount) is a rocky tidal island and a commune in
Normandy, France (Le Mont-Saint-Michel).
• Tidal island
• Mont Saint-Michel was previously connected to the mainland via a thin natural land bridge, which before
modernization was covered at high tide and revealed at low tide. This has been compromised by several
developments. Over the centuries, the coastal flats have been polderised to create pasture. Thus the
distance between the shore and the south coast of Mont-Saint-Michel has decreased. The Couesnon River
has been canalised, reducing the flow of water and thereby encouraging a silting-up of the bay. In 1879,
the land bridge was fortified into a true causeway. This prevented the tide from scouring the silt round
the mount.
• On 16 June 2006, the French prime minister and regional authorities announced a €164 million project
(Projet Mont-Saint-Michel[1]) to build a hydraulic dam using the waters of the river Couesnon and of
tides that will help remove the accumulated silt deposited by the uprising tides, and to make Mont-Saint-
Michel an island again. It is expected to be completed by 2012.[2]
• The construction of the dam is now complete (it was inaugurated in 2009). The project also includes the
destruction of the causeway that was built on top of the small land bridge and enlarged, to join the island
to the continent, but also used as a parking for visitors. It will be replaced by an elevated light bridge,
under which the waters will flow more freely, and that will improve the efficiency of the now operational
dam, and the construction of another parking on the continent. Visitors will have to use small shuttles to
cross the future bridge which will still be open to walking people and unmotorized cycles.